Posted by callme777 > 2016-04-22 16:54 | Report Abuse

Is game over dy la. My question is during winding up which will take up to 18 months, do we still get interest paid during winding up period? If pay than ok la

Posted by sudahkena > 2016-04-22 16:55 | Report Abuse

ths big shark. .. either cry or win big money....

Posted by Kareemabduljabbar > 2016-04-22 17:00 | Report Abuse

Liquidation is 1-2 months.

Posted by coolinvestor > 2016-04-22 17:01 | Report Abuse

now is the time to really have balls of steel....heh

Posted by bryan90 > 2016-04-22 17:06 | Report Abuse

Hope the vote is yes.because I still have hold the a lot Wa

Posted by cashflow > 2016-04-22 17:16 | Report Abuse

shark sure goreng, they also hold higher average position

Posted by Vjean > 2016-04-22 17:30 | Report Abuse

Thank you.

Posted by YC_Ma > 2016-04-22 18:16 | Report Abuse

sure get la

Posted by cashflow > 2016-04-22 18:57 | Report Abuse

Any chance if sona would postpone the vote again?

Posted by callme777 > 2016-04-22 19:13 | Report Abuse

No. No postpone. Do or die 26th

Posted by sudahkena > 2016-04-22 19:23 | Report Abuse

ths weekend can think either buy wa or not...need consider today volume. . and last 30 days .. especially on 29 & 30 mac....

Posted by stonenut2 > 2016-04-22 22:55 | Report Abuse

Using phone? Haha chances of keying wrongly is very high..

Normally use phone to view.. buy and sell use lsptop

Posted by ruslimz > 2016-04-22 23:13 | Report Abuse

to postpone egm needs shareholders approval....this time I dont think they will agree....

Posted by cashflow > 2016-04-23 00:27 | Report Abuse

So the 75% vote will only account from those who vote only.

Posted by LeperMessiah > 2016-04-23 08:36 | Report Abuse

UOB KayHian initiated a report yesterday: Decent chance of gains from both outcomes. For those who already have shares, just sit tight and relax.

Posted by meegoreng > 2016-04-23 10:11 | Report Abuse

http://www.sonapetroleum.com/download/april2016/gains-from-both.pdf

Posted by bryan90 > 2016-04-23 10:31 | Report Abuse

I have received a bad news from stock 118 .
they say have over 25% shareholders will vote no.
I dont this news true or not.@@

Posted by meegoreng > 2016-04-23 10:40 | Report Abuse

http://www.mystock118.com/2016/04/22/sona-petroleum-warrants-shoot-up-7-times-ahead-of-shareholder-meeting/

Posted by meegoreng > 2016-04-23 10:47 | Report Abuse

http://www.mystock118.com/2016/04/23/bloodbath-awaits-sona-warrant-holders-on-monday/

Posted by meegoreng > 2016-04-23 10:48 | Report Abuse

2 conflicting views in a short span of time. Confusing.....

Posted by bryan90 > 2016-04-23 11:01 | Report Abuse

Now i have be feeling I bet big or small in the genting casino. Haha

Posted by sudahkena > 2016-04-23 11:18 | Report Abuse

look at annual report 2014... substantial shareholders for mother n warrant.... hard to guess. ..

Posted by Ant > 2016-04-23 11:25 | Report Abuse

big block of money flew in to warrant is true, but price pluged too. so.... if the news is true, will see the price straight to q sell @ 0.5c.... all of us have no change to sell.... good bye my money.

Posted by bryan90 > 2016-04-23 11:31 | Report Abuse

So on monday will be know how the price and volume for mother and Wa.
And will litter bins know how about for Tuesday qa result.

Posted by Trader66 > 2016-04-23 11:43 | Report Abuse

UOB KayHian research report as per following :

Retail Market Monitor
MONEY TALK
Sona Petroleum (SONA MK)
Decent Chance Of Gains From Both Outcomes
Friday, 22 April 2016
BUY
(Initiate Coverage)
Share Price Target Price Upside
COMPANY DESCRIPTION
Sona will seek shareholders’ approval for the purchase of the Stag Oilfield (QA) on 26 April. If the QA is not approved, shareholders can expect proceeds of a maximum of RM0.48/share (excluding various costs). If the QA is approved, the target price would be RM0.54/share if oil prices recover to US$80/bbl beyond 2020. Assuming no risks to both assumptions, shareholders may stand to be winners in both outcomes. The asset will have no upside if the long-term oil price is <US$70/bbl. Initiate coverage with BUY and target price of RM0.54.
INVESTMENT HIGHLIGHTS
RM0.44 RM0.54 +24.0%
MALAYSIA
Sona Petroleum is a special purpose acquisition company (SPAC)

Posted by Beginner2016 > 2016-04-23 12:08 | Report Abuse

http://www.mystock118.com/2016/04/22/sona-petroleum-warrants-shoot-up-7-times-ahead-of-shareholder-meeting/

Posted by coolinvestor > 2016-04-23 13:26 | Report Abuse

Crossing fingers on official report...

Posted by Zillions > 2016-04-23 13:40 | Report Abuse

How to know votes are out and everyone is voting no when the approval is on 26 April?

Posted by MrPauper > 2016-04-23 14:19 | Report Abuse

According to mystock118,

"Its reliably learnt that shareholders have rejected Sona Petroleum's proposal to acquire a Stag Oilfield in Australia for US $50 million."

I don't really trust the report because the proposal is to acquire the oilfield for US$ 25 million and not US$ 50 million as reported. If US$50 million, of course it will be rejected.

Mystock118 isn't reliable in such an important reporting, so how can I rely on its so called reliable source? Should I laugh it off now?

Posted by coolinvestor > 2016-04-23 14:26 | Report Abuse

Yes cant even get the facts right. Sounds like 3rd rate reporting to me

Posted by YC_Ma > 2016-04-23 14:38 | Report Abuse

Wait wait wait sona the power of dream hahaha

Posted by WarenBufet > 2016-04-23 15:53 | Report Abuse

From the reports of research houses, they indicate that, in the event of Sona's QA approval, Sona shares have a good upside from current price.
UOB: BUY NPV RM0.54 (> RM0.68 if long-term oil prices > US$90)
MIDF: DCF RM0.53 / PBV RM0.56 (Hart & 2C resources not included in valuation)
RHB: DCF Base RM0.48 / Best RM0.80. (conservative oil price assumptions used)

Posted by sonapetroleum > 2016-04-23 16:11 | Report Abuse

Dear all, sharing a recent UOB KayHian research report on Sona:

http://www.sonapetroleum.com/download/april2016/gains-from-both.pdf

Regards,
Sona Petroleum

Posted by sudahkena > 2016-04-23 16:45 | Report Abuse

I guess everyone here want qa pass coz...


for vote yes... look for future... share price up + capital repayment + hold some warrant

for vote no.. want share repurchase at 0.485 immediately. gurantee gain.

if qa fail... all need to wait more than 6 month .. appoint liquidator, close file with lhdn and ssm.. maybe money struck more than 6 month ... wa holder became toilet paper...

Posted by speakup > 2016-04-23 16:47 | Report Abuse

QA pass or fail dont matter to speakup coz speakup no sona mother no sona warrant. Last time adalah 200,000 shares. Skarang tada.

Posted by ab55 > 2016-04-23 17:43 | Report Abuse

Sebab tulah selalu bagi stupid comment

Posted by WarenBufet > 2016-04-23 18:15 | Report Abuse

The research houses' finding on the valuations of Sona shares when Sona's Stag QA is approved, further support my change of strategy from short-term yield investor to long-term growth & yield investor (better known as Value Investing).

The 90% cashback, to a Value Investor, was a Margin of Safety to have when investing in Sona, especially in the proposed Salamander QA period when oil prices were >US$100 and then started to drop in 2014/2015. The 90% cashback back then was a valuable tool

For the Stag,QA, with the consensus opined that Brent oil prices having bottomed out in 2016, long term growth investors of Sona can take the opportunity to ride on the strengthening of Brent + Stag premium prices, fundamentally Buy-Low Sell-High

Value investors will be able to benefit from Sona's cash flow allocated for the "3rd basket", namely the expected yield from regular dividends which a norm of upstream O&G co.

Value investors welcome the sweetened capital repayment, as we get to lower our Sona entry price. From a corp governance perspective, the return of excess cash to shareholders (excl management) is positively viewed by Value investors.

Therefore, from all my comments and as a Value investor, I will vote to APPROVE the Sona's Stag QA.

"Be Greedy when Others are Fearful. Be Fearful when Others are Greedy"

Posted by MG11 > 2016-04-23 18:37 | Report Abuse

True ab55..

So many stupid remarks by smart alecks on Sona. It has become
pointless to respond!

Posted by hpcp > 2016-04-23 22:56 | Report Abuse

After analysts issued reports, share price dropped pula

Posted by cruise > 2016-04-24 09:20 | Report Abuse

yeah, those smart alex think they are smarty
wait for egm result on tuesday

Posted by Trader66 > 2016-04-24 12:50 | Report Abuse

Retail Market Monitor
MONEY TALK
Sona Petroleum (SONA MK)
Decent Chance Of Gains From Both Outcomes
Sona will seek shareholders’ approval for the purchase of the Stag Oilfield (QA) on 26 April. If the QA is not approved, shareholders can expect proceeds of a maximum of RM0.48/share (excluding various costs). If the QA is approved, the target price would be RM0.54/share if oil prices recover to US$80/bbl beyond 2020. Assuming no risks to both assumptions, shareholders may stand to be winners in both outcomes. The asset will have no upside if the long-term oil price is <US$70/bbl. Initiate coverage with BUY and target price of RM0.54.

INVESTMENT HIGHLIGHTS

 Potential for shareholders to be winners in both outcomes. Sona Petroleum (Sona) will seek shareholders’ approval for the qualifying acquisition (QA) on 26 April at a purchase price of US$25m. Independent reserve consultants Gaffney, Cline & Associates (GCA) deem the purchase consideration fair at a cost (2P reserves) of about US$1.5/boe, based on a 2P reserve estimate of 17.6MMboe. This is a cash generating asset that has a technical remaining field life of 21 years. Based on the assumptions on both outcomes detailed below, shareholders can stand a decent chance of seeing investment gains.

Max cash valueofRM0.48/sharefordistribution.AssumingtheQAisnotapproved, shareholders (ex-management which owns 20% stake) can expect a distribution of a maximum of RM0.48/share (9% upside), which reflects the current cash trust amounts and is based on the assumption of 4% interest earned for one more year. The uncertainty lies in the time that the company will take to liquidate and this might take 6- 12 months. Costs that may reduce the max proceeds are: a) running operating costs, b) liquidation and distribution-related expenses, and c) tax payable on new interest earned on the trust funds.

Plans and scenarios: If the QA is approved. After the US$25m purchase, Sona will carry out a two-phase infill development plan (total US$110m) by 1Q17 and 2Q18 respectively, which will enhance long-term production rates by 35% from 4,600bpd of oil in 2016. The cash trust amounts and the Stag’s operating cash flows are expected to be sufficient to fund the infill development. They do not expect to take up borrowings. If shareholders approve the QA, the asset could be value-accretive in the long term against the backdrop of a prolonged oil price recovery, and/or if cost reductions are greater than expected (please see below). In this case, we have detailed DCFs based on oil price scenarios, valuing production up till 2028 – the last year expected for commercial production of 2P reserves, according to GCA.

Target prices from a scenario-based analysis. Assuming the QA is approved and oil prices increase progressively to US$80/bbl by 2020 amid minor cost reductions, our target price for

Sona would be RM0.54 (including RM0.08 capital repayments, 24% upside). On the flip side, a depressed oil price environment (long-term oil prices <US$70/bbl) will remove the asset’s upside from the current share price. Stag’s net present value (NPV) breakeven is US$45/bbl. Note that our valuation is more bullish vs the consultant’s valuation, as they have assumed abandonment costs after 2028.

KEY FINANCIALS
Year to 31 Dec (RMm) 2014 2015
Net Turnover - - EBITDA (23.5) (11.8)
Operating Profit
Net Profit (Reported/Actual) Net Profit (Adjusted)*
EPS (sen)
PE (x)
P/B (x)
Net Dividend Yield (%)
Net Margin (%)
Net Debt/(Cash) to Equity (x) ROE (%)
Consensus Net Profit UOBKH/Consensus (x)
- - (28.5) (17.5) (28.5) (17.5) (0.02) (0.01) - - 18.00 46.60 - -
- -
- -
- -
- -
* No net profit forecasts pending the outcome of the QA. If QA is approved, net profits for 2015/2016F could be RM5-12m Source: Sona, Bloomberg, UOB Kay Hian
-
-
www.utrade.com.my 1

Posted by sheep > 2016-04-24 13:48 | Report Abuse

sell

Posted by Brutus121 > 2016-04-25 08:27 | Report Abuse

rohan ...too early man. They having breakfast at Mamak Stall!

Posted by ktsk88 > 2016-04-25 08:31 | Report Abuse

Voting is tomorrow.................so the warrant volume trading for this 2 days is the indication of tomorrow outcome.

Posted by ruslimz > 2016-04-25 08:48 | Report Abuse

no needs to wait the results laa........be realistic ...signs shows that people already knew what is expected from tomorrows's voting......once again...to warrants holders...beware....

Posted by Mk17 > 2016-04-25 09:08 | Report Abuse

but the warrants buying quantity in high volume

Posted by speakup > 2016-04-25 09:11 | Report Abuse

speakup think QA will pass. from an independent observer

Posted by ruslimz > 2016-04-25 09:16 | Report Abuse

that is peculiar for a share market......in any condition, there are always buyers and sellers....if not bursa has to close...

Posted by ktsk88 > 2016-04-25 09:28 | Report Abuse

Management could be mopping up warrants to be given free to shareholders that voted YES.........anything is possible.

Posted by bryan90 > 2016-04-25 09:30 | Report Abuse

Vote yes